Unraveling Intelligent Document Processing: Concepts, Technologies, and Applications

What is Intelligent Document Processing?
Intelligent Document Processing (IDP) refers to the use of advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) to automate the extraction, classification, and management of information from various types of documents. IDP streamlines workflows by converting unstructured data into structured data, enabling organizations to gather insights quickly. The process typically involves Optical Character Recognition (OCR) to digitize documents, followed by natural language processing (NLP) to understand context. As businesses face increasing data volumes, IDP provides a scalable solution to enhance efficiency and accuracy while reducing manual intervention. Intelligent Document Processing market size is projected to grow USD 23348.51 million by 2034, exhibiting a CAGR of 29.22% during the forecast period 2025-2034.
Key Components of IDP
The main components of Intelligent Document Processing include data capture, data extraction, data validation, and data integration. Data capture involves scanning and digitizing documents using OCR technology. Data extraction…
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